BEFORE BITCOINS

BITCOIN is the foremost Crypto-currency of our times. In one swoop, it has destroyed our mindset regarding paper money, or even traditional financing. It is definitely the defining revolution since the advent of Digital Money. So what is a Crypto-currency? Unlike the so called ‘Real Money’, Crypto-currency has no existence outside the Internet and the Cloud. But it is also that it does not owe its allegiance to any country or have any national boundary. The traditional form of money has gradually evolved from symbolic and identical physical objects, formed usually from materials like metals, bones and paper to gold, gold stocks and finally Digital Money. This Real Money has had an organic growth. Agreements were struck to define the comparative value of currencies of different countries. But all currencies were tied to their country of origin, and were controlled by the governments in power in that country or by their Central Financial Authority. After the Second World War, as USA emerged as the most powerful nation in the world, it was universally agreed to make the US Dollar the Central Currency, against which all other currencies would be measured. But BITCOIN and its fellow Crypto-currencies like Eutherium, EOS and Litecoin are Free of any intrusion by Nations or their Agencies, even USA. One problem however has been causing headache : it is the procurement or acquiring of Crypto-currencies. At present, the route taken for acquiring of free bitcoin seems the most convenient, least complex and the fastest, while Mining remains the domain of well-equipped Professionals only.